PNC Declares Dividend Of $1.15 On Common Stock

Rhea-AI Summary

The PNC Financial Services Group has declared a quarterly cash dividend of $1.15 per share on common stock, payable on May 5, 2021, to shareholders of record by April 16, 2021. Additionally, the board announced dividends for preferred stocks: Series B: $0.45 (payable June 10, 2021), Series P: $1,531.25 (payable May 1, 2021), Series R: $2,425.00 (payable June 1, 2021), and Series S: $2,500.00 (payable May 1, 2021). PNC remains a leading diversified financial institution in the U.S.

Positive

• Quarterly dividend of $1.15 per share on common stock.
• Continued commitment to returning value to shareholders.
• Diverse dividend offerings for preferred stocks enhance shareholder income.

Negative

• None.

PITTSBURGH, April 1, 2021 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.15 per share. The dividend will be payable May 5, 2021, to shareholders of record at the close of business April 16, 2021.

The board also declared a cash dividend on the following series of preferred stocks:

• Series B: a quarterly dividend of 45 cents per share will be payable June 10, 2021, to shareholders of record at the close of business May 14, 2021.
• Series P: a quarterly dividend of $1,531.25 per share ($.3828125 per each depositary share, 4,000 of which represent one share of Series P preferred stock) with a payment date of May 1, 2021, will be payable the next business day to shareholders of record at the close of business April 16, 2021.
• Series R: a semi-annual dividend of $2,425.00 per share ($24.25 per each depositary share, 100 of which represent one share of Series R preferred stock) will be payable June 1, 2021, to shareholders of record at the close of business May 17, 2021.
• Series S: a semi-annual dividend of $2,500.00 per share ($25.00 per each depositary share, 100 of which represent one share of Series S preferred stock) with a payment date of May 1, 2021, will be payable the next business day to shareholders of record at the close of business April 16, 2021.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS:  

MEDIA:            
Marcey Zwiebel
(412) 762-4550
media.relations@pnc.com

INVESTORS:
Bryan Gill
(412) 768-4143
investor.relations@pnc.com

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SOURCE The PNC Financial Services Group, Inc.

FAQ

What is the dividend amount declared by PNC for common stock?

PNC declared a quarterly cash dividend of $1.15 per share on common stock.

When will PNC's common stock dividend be paid?

The dividend will be payable on May 5, 2021.

What are the payment dates for PNC's preferred stock dividends?

Preferred stock dividends will be paid on May 1, 2021, and June 1, 2021, for Series P, R, and S.

Who are the shareholders of record for PNC's dividend?

Shareholders of record at the close of business on April 16, 2021, will receive the dividend.

Is PNC's dividend sustainable for the future?

While the press release does not specifically address sustainability, PNC's commitment to regular dividends suggests ongoing income for shareholders.